Much attention has been paid to the complex risk transmission between carbon and energy markets along with the increasing global financial market integration. This research thus uses the DCC-MVGARCH model and spillover index method to investigate volatility linkages between the European carbon...

I construct a new measure of accounting conservatism and offer validation tests. The new measure, DGOLOA, equals to the growth of operating liabilities minus the growth of operating assets. The rationale behind DGOLOA is that operating liabilities and operating assets shall grow at the same rate...